Market Overview
In its research report, Market Research Future (MRFR), emphasizes that
over the review period , the global market 2020 is poised to increase
significantly, ensuring substantial market valuation of USD 186 Billion by
2023, and a healthy 18% CAGR over the review period.
Drivers and Restraints
Intracity travel distance has been increased by rapid urbanization and
expansion of metropolitans. The high vehicle costs and the rising traffic
problems have produced the advent of shared transport. On-demand mobility services
offer easy access to shared or personal transportation vehicles at affordable
prices. Technological advancements and evolving IoT developments along with
growing smartphone penetration are driving the growth of the global demand
mobility market to a large extent. Increasing popularity of car sharing
services , higher fuel prices and government initiatives to improve transport
with smart mobility solutions are some of the other factors that drive the
growth of mobility on demand market. The primary driving
factor driving market growth is increasing demand for water and wastewater
treatments. With growing concerns about the health risks and ecological impacts
of organic contaminants, chemicals, and by-products of decontamination in water
and wastewater supply, governments across numerous economies have announced
several emission guidelines that are driving the growing demand for water and
wastewater treatment devices. The European Union ( EU), for example, has
reorganized its dominant supervisory priorities and established modern criteria
for controlling wastewater production and encouraging recycle and reuse.
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Segmental Analysis
The global mobility on demand market has been analyzed on the basis of
vehicle type, service, data service, internet connectivity and vehicle
connectivity.
The mobility on demand market based on service was segmented into car
sharing, e-hailing, car rental and station-based mobility. E-hailing service
accounts for the largest market share of on demand mobility. The mobility on
demand market was divided into four-wheelers and micro mobility vehicles, based
on the type of vehicle.
Data service-based mobility on demand market segmented into payment,
navigation, information and others. Based on internet connectivity, on-demand
mobility market segmented into 4 G, 3 G , 5 G and Wi-Fi. The mobility on demand
market was segmented into vehicles based on vehicle connectivity infrastructure
(V2I), vehicle to vehicle (V2V), vehicle to pedestrian (V2P) and vehicle to
network (V2N)
Regional Assessment
The global market geographic overview was conducted in four major
regions including Asia Pacific , North America, Europe and the rest of the
world. North America region is expected to be the fastest growing on-demand
mobility market due to increased adoption of bringing your own device (BYOD)
technology, increasing urban population and increasing citizens' adoption of
e-hailing service. The prime factors driving demand growth are the increasing working
population in urban areas, raising knee problems and progress in the healthcare
sector.
Growing acceptance of electric and plug-in hybrid vehicles in shared
transportation services, reduced travel costs and real-time service
availability are accelerating the growth of global demand mobility.
Nonetheless, insufficient transport infrastructure, lack of knowledge of shared
transport services and low penetration of advanced technology in underdeveloped
regions are likely to adversely affect the growth of mobility in demand market.
Asia-Pacific region accounts for highest market share in mobility on demand
market also owing to growing IT infrastructure and rising population in urban
areas.
Competitive Analysis
The major market players operating in the global market as identified by
MRFR are Uber Technologies Inc. (U.S.), Denso Corporation (Japan), Delphi
Automotive Plc (U.K.), Lyft (U.S.), Intel Corporation (U.S.), Robert Bosch Gmbh
(Germany), Tomtom NV (Netherlands), International Business Machines Corp. (U.S.),
Gett, Inc. (U.S.), Didi Chuxing (China), among others.
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